Exports shrank 5.4 percent year-on-year to USD 31,942 million compared to USD 33,761 million, as oil sales dropped 27.5 percent while non-oil decreased at a slower 3.8 percent. Within non-oil exports, those to the US decreased 4 percent while those to the rest of the world went down 3.2 percent. Exports of mining fell by 39 percent and those of manufactured products went down by 3.4 percent, as automotive sales decreased 6.7 percent. By contrast, exports of agricultural goods rose 4.5 percent.
Imports contracted 6.1 percent to USD 32,466 million from USD 34,589 million a year earlier, as purchases of oil products declined 10.2 percent and non-oil imports fell 5.8 percent. When considering imports by type of goods, imports of consumer goods dropped 12.5 percent and purchases of intermediate and capital goods decreased 5.1 percent each.
On a seasonally adjusted monthly basis, exports grew 6.2 percent and imports increased 5.2 percent.